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GUESS CONTINUES RETAIL DEVELOPMENT IN ITALY AND PORTUGAL

by Maria Cristina Pavarini — March 13, 2012

Guess has announced the expansion of its European retail structure through an acquisition agreement with the Percassi Group in Italy as well as a joint venture with majority shareholding with the Brodheim Group in Portugal.

By the end of the spring/summer 2012 season the American brand will have acquired 26 stores currently operated by the Percassi Group under license agreement, thus reinforcing its presence in Italy with 158 property and licensee-run stores. The acquired stores will be controlled by the subsidiary group Guess Italia and located in key cities including Rome, Milan, Turin and Padua.

Guess will also extend its store network in Portugal through a joint venture operation with Brodheim SA, where Guess is the majority shareholder. The brand will open 20 new stores in addition to the five existing stores in Lisbon, Porto, Cascais and Braga. The agreement with Brodheim, a key player in the Portuguese fashion market, will allow Guess to increase its presence with controlled distribution while keeping in line with brand’s highest standards in terms of quality and image.

Paul Marciano, CEO and Creative Director of Guess Inc., commented, “The acquisition of the stores from Percassi in Italy and the signing of the joint venture with Brodheim in Portugal will give our brand more control over our distribution in two important European markets, which will offer opportunities for growth and success despite the tough economic climate."